Analysts Set A10 Networks, Inc. (NYSE:ATEN) PT at $22.00

A10 Networks, Inc. (NYSE:ATEN) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $22.00.

Several analysts have issued reports on ATEN shares. Mizuho assumed coverage on A10 Networks in a research report on Monday, July 14th. They set a “neutral” rating on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of A10 Networks in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a research note on Friday, June 27th. They issued a “buy” rating and a $22.00 target price on the stock. BTIG Research raised shares of A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research report on Sunday, August 10th.

A10 Networks Stock Down 2.4%

NYSE:ATEN opened at $17.43 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.23 and a quick ratio of 4.04. A10 Networks has a 1-year low of $13.30 and a 1-year high of $21.90. The company has a 50-day moving average of $17.99 and a 200 day moving average of $17.68. The firm has a market cap of $1.26 billion, a PE ratio of 25.64 and a beta of 1.37.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $69.38 million during the quarter, compared to analysts’ expectations of $65.99 million. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.18 EPS. As a group, research analysts anticipate that A10 Networks will post 0.69 EPS for the current fiscal year.

A10 Networks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 15th. A10 Networks’s payout ratio is currently 35.29%.

Insider Activity

In other news, CFO Brian Becker sold 6,400 shares of A10 Networks stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total transaction of $115,392.00. Following the completion of the sale, the chief financial officer directly owned 77,599 shares in the company, valued at approximately $1,399,109.97. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.15% of the company’s stock.

Institutional Trading of A10 Networks

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of A10 Networks by 3.0% in the first quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider’s stock worth $6,806,000 after purchasing an additional 12,282 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in A10 Networks in the 1st quarter worth approximately $295,000. Squarepoint Ops LLC raised its position in A10 Networks by 363.8% during the 4th quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider’s stock worth $2,206,000 after buying an additional 94,032 shares during the last quarter. GAMMA Investing LLC lifted its stake in A10 Networks by 1,938.5% during the 1st quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider’s stock valued at $818,000 after acquiring an additional 47,610 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of A10 Networks by 50.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 20,592 shares of the communications equipment provider’s stock valued at $336,000 after acquiring an additional 6,893 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

A10 Networks Company Profile

A10 Networks, Inc provides networking solutions in the Americas, Japan, rest of Asia Pacific, Europe, the Middle East, and Africa. The company offers Thunder Application Delivery Controller that provides advanced server load balancing; Thunder Carrier Grade Networking, which provides standards-compliant address and protocol translation services between varying types of internet protocol addresses; Thunder Secure Sockets Layer (SSL) Insight that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses multiple critical security capabilities in one package.